Press Release

SALE Takes Delivery of 100th Aircraft

14 Mar 2006

Singapore Aircraft Leasing Enterprise (SALE) has acquired its 100th aircraft, following the delivery of a new A320 from Airbus in Toulouse. The aircraft, powered by IAE V2500 engines, was delivered to SALE in the colours of China Southern Airlines, which will operate the aircraft on long-term lease.

The delivery is a milestone for the Singapore-based leasing company, which began operations just 12 years ago with one aircraft - also leased to China Southern. Since that time SALE has established itself as a global player, with overseas offices in Europe and the US and aircraft currently in service with 32 airlines worldwide.

Robert Martin, Managing Director and Chief Executive of SALE, said that the 100th aircraft underscored the company's position as a recognised force in the leasing business, with one of the youngest fleets in the industry.

"We have been careful to follow a path of measured growth, adding aircraft at a steady pace," he said. "Unlike many other leasing companies, SALE also has a policy of selling aircraft in the early part of their service life, enabling us to maintain a young asset base and maximise our use of capital."

Of the 100 aircraft acquired by SALE to date, 29 have since been sold to third party investors and other leasing companies. This leaves a current fleet of 71 owned aircraft with an average age of just 4.3 years. In addition, the company manages another seven aircraft on behalf of investors.

The SALE portfolio is primarily based on the Airbus A320 and Boeing 737 Next Generation product lines, but also includes widebody aircraft such as the Airbus A330, Boeing 777 and Boeing 747-400 Freighter. For the future, the company has 24 aircraft on firm order for delivery through to 2008.

SALE's 100th aircraft is the third of a batch of five new A320s being leased to Guangzhou-based China Southern Airlines in the first half of this year.

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